TIM board to discuss KKR bid for stake in last-mile network

News Broadband Italy 31 JUL 2020
TIM board to discuss KKR bid for stake in last-mile network
Telecom Italia (TIM) has confirmed the receipt of a binding offer from US private equity fund KKR for a minority stake in its landline (copper and fibre) network. In a brief statement, TIM said its board will discuss the bid in its 04 August meeting and subsequently provide details of the potential transaction. KKR has been in exclusive talks with TIM since February and has reportedly offered EUR 1.8 billion for a 38 percent stake in the FiberCop newco set up by the former incumbent for its last-mile network.

In March, TIM CEO Luigi Gubitosi said FiberCop will manage TIM's entire copper network and will also act as a wholesale operator offering access to passive copper and fibre networks. Italy's government may also acquire a stake in FiberCop via state lender Cassa Depositi e Prestiti (CDP), which currently owns around 10 percent of TIM and 50 percent of rival wholesale provider Open Fiber, according to a recent report.


 

Categories:

Fixed

Companies:

TIM,  Telecom Italia

Countries:

Italy

Tags:

xDSL, Fibre, Internet Access, Wholesale, M&A buyouts & divestments

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